North America Biodegradable Plastics Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (PLA, PHA, Starch Blends, PBS, PBAT, and Others) and End User (Packaging and Bags, Agriculture and Horticulture, Consumer Goods, and Others)
The North America biodegradable plastics market is expected to grow from US$ 1,703.17 million in 2022 to US$ 4,904.16 million by 2028. It is estimated to grow at a CAGR of 19.3% from 2022 to 2028.
Clean Up Efforts Taken Up by the Governments is Drive North America Biodegradable plastics market
Biodegradable plastic is used as an effective alternative to conventional single-use plastics. These plastics deliver similar technical characteristics and functionalities as that of conventional plastics, along with the reduction of greenhouse gas emissions. Additionally, the biodegradable plastic industry has involved in the research and development of novel materials with improved properties, which has helped the companies to enhance their production efficiency and reduce environmental footprints. The supportive government policies for biodegradable plastics have further propelled the use of these plastics. For instance, the ASTM D6400 is the North American standard specifying that all the plastic products falling under the category of biodegradable or compostable should completely decompose in a composting setting in a specified time frame and should leave no harmful residues afterwards. Thus, such initiatives ban on the use of plastics that has resulted in an upsurge for the consumption of biodegradable plastic. The Oil spills are long-lasting environmental disasters with a wide range of impacts. The effects of oil spills can vary, ranging from minimal to serious ones, depending on the magnitude and location of the spillage. Oil can kill surface.
North America Biodegradable Plastics Market Overview
The North America biodegradable plastics market in North America is further segmented into the US, Canada, and Mexico. The growth in the region is attributed to the presence of several domestic and international players in the market. BASF SE, Eastman Chemical Company, Cargill Incorporated, and SABIC are some of the leading biodegradable plastics players in the region. In addition, the growth of biodegradable plastics is attributed to increasing environmental concerns and rising government initiatives to reduce greenhouse gas emissions, and rising government initiatives. For instance, in January 2022, the U.S. Department of Energy (DOE), announced USD 13.4 million in funding for next-generation plastics technologies to reduce the carbon emissions and energy consumption of single-use plastics. Further, several companies are also pledging to use recyclable or biodegradable packaging as their shift towards eco-friendliness. These factors are expected to surge the growth of the region's biodegradable plastics market. Moreover, the demand for biodegradable plastic is rising, owing to increasing awareness among people for environment-friendly products. Growing awareness about global warming and plastic pollution propels consumers to opt for biodegradable plastics. Biodegradable plastics substitute conventional plastics in the food packaging industry. Moreover, strict government legislation limiting conventional plastics' utilization is another factor propelling the growth of the biodegradable plastic market. Several FMCG companies are adopting biodegradable packaging to conform to the standards, which in turn, is propelling the growth of this market. BPI is North America’s premier certifier of compostable products and packaging, encouraging sustainable practices for recovering compostable materials through municipal and commercial composting. The program guarantees that products and packaging representing the BPI logo have been checked, tested, and verified according to scientifically based standards.
North America Biodegradable Plastics Market Revenue and Forecast to 2028 (US$ Million)
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North America Biodegradable Plastics Market Segmentation
The North America biodegradable plastics market is segmented into type, end user, and country.
Based on type, the North America biodegradable plastics market is segmented into PLA, PHA, starch blends, PBS, PBAT, and others. In 2022, the starch blends segment registered a largest share in the North America biodegradable plastics market.
Based on end-user, the North America biodegradable plastics market is segmented into packaging and bags, agriculture and horticulture, consumer goods, and others. In 2022, the packaging and bags segment registered a largest share in the North America biodegradable plastics market.
Based on country, the North America biodegradable plastics market is segmented into the US, Canada, Mexico. In 2022, the US segment registered a largest share in the North America biodegradable plastics market.
BASF SE; FKuR Kunststoff GmbH; Green Dot Bioplastics Inc; Novamont SpA; Kingfa Science and Technology Co Ltd; NatureWorks LLC; Mitsubishi Chemical Holdings Corp; Plantic Technologies Ltd; TotalEnergies Corbion BV; and API SpA are the leading companies operating in the North America biodegradable plastics market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Biodegradable Plastics Market – By Type
1.3.2 North America Biodegradable Plastics Market – End-User
1.3.3 North America Biodegradable Plastics Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Biodegradable Plastics Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.3 Expert Opinions
5. North America Biodegradable Plastics Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Growing awareness among customers about adverse effects of conventional plastics
5.1.2 Clean up efforts taken up by the governments.
5.2 Market Restraints
5.2.1 Cheaper alternatives like conventional plastics
5.3 Market Opportunities
5.3.1 Implementation of biodegradable plastics in biomedical applications
5.4 Future Trends
5.4.1 Emerging Use of Biodegradable Plastic in Biomedical Applications
5.5 Impact Analysis of Drivers and Restraints
6. Biodegradable Plastics – North America Market Analysis
6.1 North America Biodegradable Plastics Market Forecast and Analysis
7. North America Biodegradable Plastics Market Analysis – By Type
7.1 Overview
7.2 North America Biodegradable Plastics Market, By Type (2021 and 2028)
7.2.1 PLA
7.2.1.1 Overview
7.2.1.2 PLA: North America Biodegradable Plastics Market – Revenue and Forecast to 2028 (US$ Mn)
7.2.2 PHA
7.2.2.1 Overview
7.2.2.2 PHA: North America Biodegradable Plastics Market – Revenue and Forecast to 2028 (US$ Mn)
7.2.3 Starch Blends
7.2.3.1 Overview
7.2.3.2 Starch Blends: North America Biodegradable Plastics Market – Revenue and Forecast to 2028 (US$ Mn)
7.2.4 PBS
7.2.4.1 Overview
7.2.4.2 PBS: North America Biodegradable Plastics Market – Revenue and Forecast to 2028 (US$ Mn)
7.2.5 PBAT
7.2.5.1 Overview
7.2.5.2 PBAT: North America Biodegradable Plastics Market – Revenue and Forecast to 2028 (US$ Mn)
7.2.6 Others
7.2.6.1 Overview
7.2.6.2 Others: North America Biodegradable Plastics Market – Revenue and Forecast to 2028 (US$ Mn)
8. North America Biodegradable Plastics Market Analysis – By End User
8.1 Overview
8.2 North America Biodegradable Plastics Market, By End User (2021 and 2028)
8.3 Packaging and Bags
8.3.1 Overview
8.3.2 Packaging and Bags: North America Biodegradable Plastics Market – Revenue and Forecast to 2028 (US$ Mn)
8.4 Agriculture and Horticulture
8.4.1 Overview
8.4.2 Agriculture and Horticulture: North America Biodegradable Plastics Market – Revenue and Forecast to 2028 (US$ Mn)
8.5 Consumer Goods
8.5.1 Overview
8.5.2 Consumer Goods: North America Biodegradable Plastics Market – Revenue and Forecast to 2028 (US$ Mn)
8.6 Others
8.6.1 Overview
8.6.2 Others: North America Biodegradable Plastics Market – Revenue and Forecast to 2028 (US$ Mn)
9. North America Biodegradable Plastics Market – Country Analysis
9.1 Overview
9.1.1 North America: Biodegradable Plastics Market, by Key Country
9.1.1.1 US: Biodegradable Plastics Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: Biodegradable Plastics Market, By Type
9.1.1.1.2 US: Biodegradable Plastics Market, by End User
9.1.1.2 Canada: Biodegradable Plastics Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Canada: Biodegradable Plastics Market, By Type
9.1.1.2.2 Canada: Biodegradable Plastics Market, by End User
9.1.1.3 Mexico: Biodegradable Plastics Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: Biodegradable Plastics Market, By Type
9.1.1.3.2 Mexico: Biodegradable Plastics Market, by End User
10. Company Profiles
10.1 API SpA
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 BASF SE
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 FKuR Kunststoff GmbH
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 Green Dot Bioplastics Inc
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 Novamont SpA
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 Kingfa Science and Technology Co Ltd
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
10.7 NatureWorks LLC
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Products and Services
10.7.4 Financial Overview
10.7.5 SWOT Analysis
10.7.6 Key Developments
10.8 Mitsubishi Chemical Holdings Corp
10.8.1 Key Facts
10.8.2 Business Description
10.8.3 Products and Services
10.8.4 Financial Overview
10.8.5 SWOT Analysis
10.8.6 Key Developments
10.9 Plantic Technologies Ltd
10.9.1 Key Facts
10.9.2 Business Description
10.9.3 Products and Services
10.9.4 Financial Overview
10.9.5 SWOT Analysis
10.9.6 Key Developments
10.10 TotalEnergies Corbion BV
10.10.1 Key Facts
10.10.2 Business Description
10.10.3 Products and Services
10.10.4 Financial Overview
10.10.5 SWOT Analysis
10.10.6 Key Developments
11. Appendix
11.1 About The Insight Partners
11.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Biodegradable Plastics Market Revenue Forecast to 2028 (US$ Mn)
Table 2. US Biodegradable Plastics Market, Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. US Biodegradable Plastics Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 4. Canada Biodegradable Plastics Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada Biodegradable Plastics Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 6. Mexico Biodegradable Plastics Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico Biodegradable Plastics Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 8. Glossary of Terms, North America Biodegradable Plastics Market
LIST OF FIGURES
Figure 1. North America Biodegradable Plastics Market Segmentation
Figure 2. North America Biodegradable Plastics Market Segmentation – By Country
Figure 3. North America Biodegradable Plastics Market Overview
Figure 4. Packaging and bags segment holds the largest share
Figure 5. US Held Largest Share of Biodegradable Plastics Market in 2021
Figure 6. Porter's Five Forces Analysis
Figure 7. Expert Opinion
Figure 8. North America Biodegradable Plastics Market: Impact Analysis of Drivers and Restraints
Figure 9. North America Biodegradable Plastics Market Forecast and Analysis, 2020–2028 (US$ Mn)
Figure 10. North America Biodegradable Plastics Market Revenue Share, By Type (2021 and 2028)
Figure 11. PLA: North America Biodegradable Plastics Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 12. PHA: North America Biodegradable Plastics Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 13. Starch Blends: North America Biodegradable Plastics Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 14. PBS: North America Biodegradable Plastics Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 15. PBAT: North America Biodegradable Plastics Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 16. Others: North America Biodegradable Plastics Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 17. North America Biodegradable Plastics Market Revenue Share, By End User (2021 and 2028)
Figure 18. Packaging and Bags: North America Biodegradable Plastics Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 19. Agriculture and Horticulture: North America Biodegradable Plastics Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 20. Consumer Goods: North America Biodegradable Plastics Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 21. Others: North America Biodegradable Plastics Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 22. North America: Biodegradable Plastics Market, by Key Country - Revenue (2021) (US$ Million)
Figure 23. North America: Biodegradable Plastics Market Revenue Share, by Key Country (2021 and 2028)
Figure 24. US: Biodegradable Plastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Canada: Biodegradable Plastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Mexico: Biodegradable Plastics Market – Revenue and Forecast to 2028 (US$ Million)
- BASF SE
- FKuR Kunststoff GmbH
- Green Dot Bioplastics Inc
- Novamont SpA
- Kingfa Science and Technology Co Ltd
- NatureWorks LLC
- Mitsubishi Chemical Holdings Corp
- Plantic Technologies Ltd
- TotalEnergies Corbion BV
- API SpA
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America biodegradable plastics market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America biodegradable plastics market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the biodegradable plastics market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution